ITASCA, Ill., July 20, 2015 /PRNewswire/ -- Arthur J. Gallagher & Co. (NYSE :AJG ) today announced that it has acquired a 65% equity interest in ARM Re Ltda Corredores de Reaseguros (ARM), located in Bogota, Colombia. Terms of the transaction were not disclosed.
Established in 2006, ARM places property & casualty risks for its predominately Colombian clients. It specializes in construction, energy and mobile equipment risks and handles facultative business across terrorism, transportation, property, third-party liability, and contractors' machinery and equipment. Carlos Rodriguez Angulo, Fernando Tellez and their associates will continue to operate from their current Bogota location under the ultimate direction of Grahame Chilton, head of Gallagher's international brokerage operations based in London.
"We continue to look for specialist international brokers to develop into key strategic partners as we expand our sales and service capabilities around the globe," said J. Patrick Gallagher, Chairman, President and CEO. "With its experienced and entrepreneurial team, reputation for innovative program design, and focus on delivering flexible and integrated client solutions, ARM is a great cultural fit for Gallagher. We welcome Carlos, Fernando and their colleagues into our growing Gallagher family of professionals."
Arthur J. Gallagher & Co., an international insurance brokerage and risk management services firm, is headquartered in Itasca, Illinois, has operations in 31 countries and offers client-service capabilities in more than 140 countries around the world through a network of correspondent brokers and consultants.
SOURCE Arthur J. Gallagher & Co.